Nakheel signs construction contract for $1.6bn mall

Construction of Deira Mall will start in Q1, and will be completed by 2021
The construction contract - worth $1.1bn (AED4.2bn) – has been awarded to United Engineering Construction (UNEC), in what will be one of Dubai’s highest-value construction contracts awarded for a single project in recent times.
By Staff writer
Sun 18 Feb 2018 04:48 PM

Dubai master developer Nakheel has signed a contract for the construction of Deira Mall, the $1.6bn (AED6.1bn) dining and entertainment destination that it said will be the biggest in the Middle East.

The construction contract - worth $1.1bn (AED4.2bn) – has been awarded to United Engineering Construction (UNEC), in what will be one of Dubai’s highest-value construction contracts awarded for a single project in recent times.

Nakheel said construction will start in Q1 this year, and is set to be compled by 2021.

The mall is part of Nakheel Malls’ $4.3bn (AED16bn) expansion that will take its total retail space to over 17 million sq ft and have more than 1,000 shops, cafes, restaurants and entertainment outlets.

Deira Mall’s star attraction, a state-of-the-art, retractable glass roof, will bring natural light into the complex and allow for open-air shopping during cooler months.

“Deira Mall combines cutting edge design, world-class facilities and a stunning location to bring a new dimension to Dubai’s retail sector," said Ali Rashid Lootah, Nakheel chairman.

"With its top-flight shopping, dining and entertainment offering, the mall will provide endless attractions for residents of Deira Islands, the wider UAE community and the millions of tourists who visit Dubai each year.”

Deira Mall will be the centrepiece of Deira Central, Nakheel’s 9 million sq ft mixed-use community at the heart of Deira Islands, containing 50 residential and hotel towers, retail, mosques and fitness facilities, all set in extensive parkland.

Deira Mall is one of two large-scale retail destinations by Nakheel Malls at Deira Islands.

The other, Deira Islands Night Souk, will be the world’s largest night market, with 5,300 shops and almost 100 quayside cafes and restaurants. Construction is under way, with the project due for completion later this year.

Nakheel is also building several hotels and resorts at Deira Islands, including an 800-room beachfront resort and waterpark through a joint venture with Spain’s RIU Hotels & Resorts, and a 600-room seafront resort under a partnership with Thailand’s Centara Hotels & Resorts.

The company has also signed an MoU with Hilton to manage a 250-room hotel and 200 serviced apartments at Deira Islands under the DoubleTree brand. More hospitality deals are in the pipeline.

The four-island development, which is adding 40 km, including 21 km of beachfront, to Dubai’s coastline, will feature tourism, leisure and residential developments including hotels, resorts, serviced apartments, mixed-use buildings and waterside homes.

For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Last Updated: Sun 18 Feb 2018 04:34 PM GST

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.